There is no requirement to form new HUF and obtain new PAN
Listen to this article
My father had a Hindu Undivided Family (HUF) bank account and a PAN associated with it through which he paid all taxes on our agricultural income and rental income. I am married and staying with my husband and a 3-year old son. My father passed away three years back leaving behind me and my mother. We are unsure about how to continue with the HUF PAN after his demise. Who would become the Karta with only two surviving female members. As of now we are still paying taxes using the old HUF PAN. Can we open a new HUF account with a new PAN with my mother being Karta and my husband and I being members to HUF? Can a minor grandson have a role in such an arrangement? Or, can we continue using old PAN? However, we are not allowed to open any new bank accounts using that PAN. How should we manage this?
Recommended For You
Select your Category
Internet Not Available
Wait for it…
Log in to our website to save your bookmarks. It'll just take a moment.